Sunday, May 20, 2012
allow me to state the obvious
When debt reaches unsustainable levels there are only 2 solutions:
B) DEVALUE THE CURRENCY.
That's it. There are many moronic gobbledygook phrases that sound like options, but they aren't:
"A combination of austerity and growing the economy."
"A support of the banking system while cutting taxes and reigning in spending."
"A flattening of the yield curve and and a shoring up of banking balance sheets."
"A restructuring of debt along with a program of checks and balances on the fiscal structure."
"A rejiggering the thingamajobber along with a positronic alteration of the cosmo-fiscal Order."
Make up your own.
Then go back to A and B.
That's all the choice Greece has. That's all the choice Spain has, That's all the choice japan has. That's all the choice the United States of America has.
Learn it. Love it.